I don’t know why Charlie hasn’t looked more closely at some of the salary bloat in Risk/Compliance. There are many $200k++ salaries for managers who do next to nothing. And why does Nick P. still have a job when recent audit finding show FCRM has been poorly governed (and he blames it on everyone but himself)?
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Compliance in this place a total joke. Management too busy having affairs. If you find real problems probably a good old boy buddy they will golf it out and come back and tell you stop harassing their buisness! Been there done that ! Good compliance has hands tied to struggle of let the firm rip off people and make money. Disgusting.
@wgt+17O7aWDb
I am sure that competitors pay the same but for a higher caliber of employees.
A lot of WF Senior Mgt are people who were put into these roles after being at a bottom of org or one level above for about 2 years. It tells you something about the mgt and leaders and HR who cannot see what a quality candidate looks like. F
The only things Chuck Sharf looks at is his dyed white hair and his bank account balance. He cares for nothing else.
Quite the opposite, in my experience the salaries in risk are a bit lower than market in some geographies. I believe the problem is not the salary itself but the ridiculous number of redundant roles that creates extraordinary inefficiencies.
@zjd, that would be the same comp area as most of the people in NY/NJ as well. You can't compare comp in an area 0 to an area 3. They pay is still relative based on the metro.
But JPm has only half the people in risk and doing more effective work
there are also lots of risk in san francisco and as a result are making a lot more than those in des moines and charlotte.
for people that want to complain about the comp structure- I have news for you. They are quite literally based on market wages, meaning what our competitors would pay for a similar job in the same metro. I'm in risk and one of those "highly compensated" over 150k and I will say the competitors I have talked to (yes I'm looking), including JPM and Citi are in line with what we pay. So I understand if you think certain people are overpaid for what they really do, but it's competitive and unless they want to lose people it will remain so.
Its much like when a football team is failing. First the head coach fires the assistants, if that still doesn’t turn things around then the HC head is on the block